Yorkshire EdTech firm secures funding boost
A six-figure round of funding has been secured for Yorkshire EdTech firm, Synap.
Yorkshire funding and investment group, Venturian, led the funding round and, along with further investors, have confirmed their investment in Synap; which will further boost the firm’s growth plans and fund developing technology for new sectors.
Synap is an intelligent learning platform that uses neuroscience and research to help students and professionals learn more in less time. It was founded by Dr James Gupta and Dr Omair Vaiyani whilst they were at Leeds Medical School.
Synap was a way to help them revise for their own exams and the platform quickly became popular amongst students. Partnered with the Oxford University Press, last year over 10,000 medical students using Synap saw an average 30% increase in their study performance.
Synap is now also delivering corporate training solutions across a range of industries including financial services, retail and transport. With this investment, Synap is now in position to capitalise on its significant opportunities, including developing its technology out to other sectors and users.
Greg Allsopp, investment director at Venturian, said: “We’ve been talking to James and Omair for a while and have been impressed with how they’ve built a growing business whilst being medical students. Since graduating, they’ve taken Synap up another level with a move into workplace learning and we’re pleased to be able to support future growth, not just with funding, but also by bringing our experience into the team.
“Artificial intelligence and machine learning methods are developing into mainstream products and we’re delighted to be working with an award-winning startup that is at the forefront of tech that helps people learn in a more efficient way. We believe Synap is a company to watch.”
Gupta added: “It’s great to have the team from Venturian behind us. We’re at a growth stage at the moment and the funds invested in us will help us reach the high targets we’ve set ourselves.
“It also shows that ambitious northern startups don’t need to go to London to raise investment. We have seen many of our peers head to London to raise funds, but by working with Venturian, we can spend more time on growing our business instead of spending time on trains meeting investors.”
As part of the investment, Venturian team members will join the Synap board as non-executive directors. Two other non-executive directors have also been appointed – tech investor Dr David Pearce from Nephos Solutions and Leeds Digital Festival founder, Stuart Clarke.
Legal duties were undertaken by Daniel McCormack of Lupton Fawcett LLP. McCormack said: “I am sure Synap and Venturian will prove to be a great fit. James and Omair have done amazingly well to get the business up and running, and I am sure it will now only go from strength to strength. We are delighted to have been able to help get the deal done.”
